Microsoft’s president warns the White House

The Trump administration’s recent suspension of Microsoft’s high-skilled immigration program threatens the future of the U.S. tech economy, as foreign-born talent remains essential for innovation and long-term pension fund stability. Microsoft President Brad Smith argues that the administration’s focus on raw numbers ignores the company's commitment to merit-based hiring and the significant economic contributions of immigrant-led firms. Beyond immigration, the industry requires a standardized "building code" for AI safety to replace unpredictable, ad-hoc regulatory actions with a legible, sustainable framework. Meanwhile, Erebor Bank is diversifying its defense-tech-centric model by hiring former HUD Secretary Marcia Fudge to lead community banking initiatives in Ohio. This move reflects a broader strategic pivot among Silicon Valley-backed institutions to broaden their political influence and reach beyond niche sectors, positioning themselves for the evolving economic landscape of the current administration and beyond.